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Verizon Posts Solid Subscriber Growth as New CEO Takes Over

  • Verizon raises revenue outlook as 2nd quarter tops estimates
  • Challenges loom ahead with competition from cable companies
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Verizon Communications Inc.’s strong subscriber numbers last quarter vindicate departing CEO’s go-alone strategy while rivals like AT&T Inc. are distracted with M&A efforts. At least for now.

Total monthly subscribers including for phones, tablets and watches grew by 531,000 in the second quarter, Verizon said on Tuesday, topping the 436,000 average of analysts’ estimates compiled by Bloomberg. It’s the fifth straight quarter of growth for the largest U.S. carrier.